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Caixin

How Evergrande's mythmaking created the illusion of strength

Developer that has sold no cars once created China's most valuable automaker

Evergrande Auto is now valued around HK$30 billion, about 4% of its peak.   © Reuters

China Evergrande Group, a big property developer teetering on the brink of default, has made many efforts over the years to branch into businesses beyond real estate, but what is more impressive is how it has managed to manipulate the capital markets through the stories it created.

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